Acemoglu, a professor of economics at the Massachusetts Institute of Technology, has been challenged on his premise. But, some important aspects need some unpacking. Real wages for workers have barely increased since the 1980s. Before the 1980s, the % of individuals with advanced business degrees who ran companies was 25%. Since then, workers’ wages have struggled to keep up with the inflation rate while the number of people with “MBA-like” degrees running companies has increased to 40%.  

Don’t get me wrong; I think advanced degrees are beneficial. My wife has an M.B.A., and it has served her well. So, I am not disparaging individuals with that degree. I am more annoyed with companies adding unexplainable fees or using overly complicated contracts to increase their bottom lines without adding value. 

One of the most common and regular offenders is AT&T. AT&T cable, phone, and cellular services have settled multiple class action lawsuits over the last ten years, totaling hundreds of millions in fines. I realize major corporations are often the target of class action lawsuits. But, the examples by AT&T get to my point. In August 2022, AT&T agreed to settle a class action lawsuit for adding a $1.99 monthly administrative fee to its phone customers for each additional phone line. Consequently, AT&T agreed to pay $14 million, which, let’s face it, doesn’t even qualify as a slap of the wrist for the mega-corporation. Other settled litigation against AT&T includes charging customers for unauthorized third-party services, advertising unlimited data plans, and slowing customers’ service as data usage increases.

Signs of M.B.A. Disease in Digital Marketing

Digital marketing is complex. That’s why it’s easy to charge hidden fees or wrap them up in long-term agreements without a customer’s knowledge. If you are considering starting a digital marketing project or strategy (e.g., web development, SEO, Google Ads, etc.), here are a few items to help you avoid working with a company suffering from M.B.A. disease. 

Ownership of Your Website and Hosting: The issue I harp on the most is ensuring you own your website. I’ve met with potential clients who believed they owned their website, and when they attempted to move it to another company, they found out they didn’t own the website. So, if they wanted to leave, they had to build a completely new website or pay an additional fee to buy the website.   

Usually, the company building your website will also host your website for a monthly fee. With some digital marketing companies, if you attempt to move the website to another platform, they will add a fee. Since they host your website, they may hijack it and take it down if there is a dispute. Another covert tactic occurs when you try to move your website to another provider, and the company charges you to pack up the files and send them to the new company. Always ask:

1. Will I Own the Website?
2. If I move the website, how much does it cost?
3. What is the process for moving the website?

Fees for Payment Online: Not all online payment fees are bogus. However, a digital marketing company should have already factored that into the overall cost. So, if you are paying by A.C.H. or credit card, ask if there will be additional fees before you sign your contract.

Setup Fees: Setup fees will occur on almost every SEO, Google Ads, or email marketing campaign. In some cases, companies will charge exorbitant amounts for setup fees since the potential customer has no idea how much work goes into the elements of SEO, Google Ads, etc. Ask upfront if there will be a setup fee and what is involved. It’s also important to shop around and determine how much other companies charge for the same setup fees.

Auto-Renewing Contracts (A.K.A. Reading the Fine Print): Most companies use one-year or two-year contracts for services like SEO or hosting. Some digital marketing companies will have clauses buried in the legal agreement stating the contract will automatically renew without written notice. Auto-renewals can be a massive headache if you have to pay for an extra year or two of a service you don’t want because you didn’t send a written notice before the term ends.

Adding confusing legal language and unexplainable fees to agreements at some point became acceptable. Of course, every business has to monitor the numbers to maximize revenue. But more focus should be on retaining customers and expanding the product/services rather than deceiving people. 

The post What is M.B.A. Disease? Know the Signs appeared first on Power-Marketing.

Have you committed to any New Year’s business resolutions for 2017? Here are three suggestions that may help your sales team and staff be more productive in the upcoming year and enable you to understand better whether they’re doing the job you hired them for. 

Be Clear Regarding Your Company’s Core Beliefs

Take a moment and view your business as a family, and you are the patriarch/matriarch. Be specific with what you expect from family members regarding your company’s values, belief system, and overall mission. Consider this a blueprint for creating a strong business and a manner in which your employees can gauge precisely how they fit into your company culture.

Provide Employees Specific Goals

As a business owner, you owe it to your team to give them direction and let them know upfront what is expected regarding their work on every project. Ignoring this simple detail is the equivalent of setting your employees up for failure; of course, that isn’t your intention. Any good employee wants to exceed client expectations, but they need to hear from you the what, where, when, and why before beginning the work—tell them!

Measure Progress & Results Realistically 

Through the course of a project—don’t wait until the end—check on the progress. Is your employee hitting the milestone dates? Is the project at or under budget? Has your team member addressed and resolved any problems? Most importantly, is the client happy? It doesn’t necessarily have to be you, but someone “in your family” has to look at this information. Communication—without it a business can disappear into the ether—but, when utilized daily, can raise your company to incredible heights.

To learn more about our company’s values or to discuss how we can help your business gain more exposure, attract more leads, and achieve more sales, please call me at 615.257.0057.

To a healthy and prosperous 2017!

The post 3 Quick Tips For Business Owners In 2017 appeared first on Power-Marketing.

It would be best if you dedicated time to browsing the Facebook pages of your identified demographics. Friend them. Follow them. Like and share their posts. This is the social media equivalent of walking around the room at a party, introducing yourself, and getting to know everyone. Failing to interact with others is the same thing as being a wallflower, and that simply isn’t going to help your business.

Social check-ins, as I like to call this process, can be performed anytime, anywhere. There is no rule of thumb on how often you should like and share posts, but this is one of those social media occasions where the more interaction you invest, the more exposure you gain.

• Once you’ve logged into your Facebook Business Page, your first stop should always be to check your notifications.

• If someone engages with you, respond and reciprocate.

• Next, scroll through your timeline, liking and sharing posts placed by others.

• When liking, you can select the original “thumbs up” icon or a variety of emoticons to convey how you feel about their post. Share posts with your friends/followers on your timeline for maximum exposure.

• When sharing, you even have the opportunity to comment on the post. Another option is to comment on posts, which will show up on the Facebook user’s timeline.

These social check-ins will generate exposure, strengthen social relationships, and drive more clients to your Facebook page.

Still, have questions about how to Maximize Your Facebook Business Page? Feel free to call me directly at 615.257.0057. I’m always happy to help!

The post Maximize Your Facebook Business Page (Part Five: Share, Like & Comment) appeared first on Power-Marketing.

As with any content, it’s essential to post valuable information to your target audience. It’s a fine line between posting too frequently, not enough, and just the proper amount.

How Often Should You Post On Your Facebook Business Page?

There is no magic answer. However, your goal is to stay on your target audience’s radar. Posting only once or twice a week places you at risk of losing your followers. Placing content daily can be considered overkill, especially when your posts don’t provide useful, entertaining information. I’ve found the sweet spot to post 3 to 4 times per week. This has generally resulted in solid interaction while not overwhelming your followers.

I strongly suggest creating a social media calendar. Planning your posts in advance each week will help ensure you’re placing well-thought-out content and acting as a reminder to make sure you make the post.

Facebook will even let you schedule a post in advance! This enables you to place all of your posts for the week or the month in one day and select the exact date and time they will show up in your news feed:

• Write your post, including a link to your website and an image of your choosing.
• Click the drop down arrow to the right of “Publish”.
• Select “Schedule”.
• Choose the date and time you want your post to appear in your timeline and click “Schedule.”
• You will see a confirmation message—it’s that easy!

Facebook will even let you schedule a post in advance! This enables you to place all of your posts for the week or the month in one day and select the exact date and time they will show up in your news feed:

• Write your post, including a link to your website and an image of your choosing.
• Click the drop down arrow to the right of “Publish”.
• Select “Schedule”.

You’ll need to do more than post solid content to achieve the most from your Facebook Business Page. Next week, I will explain the easiest, best way to gain followers for your Facebook Business Page.

If you would like to discuss how to get the most out of your social media accounts, please call me at 615.257.0057.

The post Maximize Your Facebook Business Page (Part Four: Post Frequency & Scheduling) appeared first on Power-Marketing.

Your business page aims to engage, inform, interact, and attract homebuyers. Let’s discuss what you should and shouldn’t place on your timeline.

What To Post On Your Facebook Business Page

You want to share your communities, model homes, and the latest news regarding your homebuilding business with the world, but you must do so with a purpose.

Make sure every post includes the following:

1. An engaging headline or interesting “lead-in.”

2. A link takes your followers to a specific page on your website.

3. An amazing image!

It’s important to note that when you place a link in your post, Facebook pulls an image from your site that will be visible on your timeline. These automatically placed images are often not the correct size and, worse yet, may not even be related to your post.

The proper image size for a Facebook post is 1200 x 627 pixels. Before you publish your post, you can delete the random image Facebook has pulled and place your own properly sized image.

What Not To Post On Your Facebook Business Page

You want to cast a wide net with your Facebook Business Page. That’s why it’s so important never to post anything that will alienate even the smallest percentage of your audience. Avoid hot topics such as politics, religion, gossip, etc. This is not the place for your personal views—this is your social media path to sell more homes!

Next week, I will discuss the ideal posting frequency on your Facebook Business Page and how to schedule posts easily in advance.

I’m available to help you learn more about the importance of social media for your homebuilding business. Feel free to call me at 615.257.0057, and I will happily answer any questions.

The post Maximize Your Facebook Business Page (Part Three: What And What Not To Post) appeared first on Power-Marketing.

One of the most overlooked benefits of your Facebook Business Page is the call to action button. This week I’m going to discuss how to place your CTA, the variety of options available as well as what I believe is the best selection for your homebuilding business.

Setting Up Your Facebook Business CTA Button

1. Under your company’s cover photo, you will see the option to add a button.

2. By clicking on the blue button, you will be given several options. Being that you’re using Facebook as a sales tool, focus on the second item in the drop-down list, “Get In Touch With Us”.

3. Here, you will see even more options to choose from. Let’s focus on the choices that will drive as much traffic to your business as possible:

You can place your phone number using “Call Now,” enabling visitors to “click to call” directly.

You can place a link to your website using “Contact Us,” directing traffic to your homepage or any page of your site for that matter.

You can direct your Facebook audience to “Sign Up,” a great opportunity to provide them with a white paper in exchange for their contact information.

What makes your Facebook CTA button truly powerful is the option to change your specific call to action at any time. Rotating through the three suggested actions above is a great idea, gauging which button generates the best response.

Next week I will explain what you should and shouldn’t post on your Facebook Business Page.

If you want to learn more about how an active social media presence will give your business more exposure and help you sell more homes, please call us at (615) 257-0057.

The post Maximize Your Facebook Business Page (Part Two: The Call To Action) appeared first on Power-Marketing.

For our next Tuesday Tips Series I’m going to provide valuable insights on how to get the best results from your Facebook Business page. We’re going to begin this week with exactly how to set up your page.

Best Practices For Setting Up Your Facebook Business Page

1.  Set up your business page while logged into your personal Facebook page using the drop down arrow on the far right. This connects both pages for ease of use, but keeps each page separate. No one can see your personal information. Simply click “create page”.
2. You will be asked to select a category that best describes your business. Choices include: “Local Business or Place”, “Company, “Organization or Institution”, “Brand or Product, Artist”, “Band or Public Figure”, “Entertainment” or “Cause 0r Community”.
3. Next you will be asked to select a category from the drop down and supply your business information. Be as detailed as possible as this is the information your followers will use to contact you!
4. Now it’s time to let viewers know about your company. Be as specific as possible and don’t forget to add keywords! You can also add a custom Facebook url for your page. It’s highly recommended to use your company name.
5. Select the best profile picture for your page, typically your company logo. This must be a high resolution image as it will be used as an icon each time you comment, like or create a post.
6. Definitely add your newly created business page to your personal favorites. It will help you tremendously when the time comes to post, like and share!
7. This just may be the most important step—setting up your preferred page audience. Tell Facebook exactly the type of client you’re trying to reach.
8. Create a memorable cover image. This is the wide photo that runs along the top of your page. Below is an example of a cover image for BuilderRadio.

Next week I will reveal even more details on how to tweak your new Facebook Business Page, including how to customize that blue call to action you see on the example above.

If you have any questions regarding what we’ve covered up to this point, please don’t hesitate to give me a call directly at 301.416.7861.

The post Maximize Your Facebook Business Page (Part One: The Set Up) appeared first on Power-Marketing.

This week I’m going to explain how to transform your marketing automation leads into bona fide sales.

You’ve Built A Relationship—Now Get The Sale

Utilizing Infusionsoft’s lead scoring system, you’re able to gauge the perfect time when your leads are most open for you to call them. This is your opportunity to strike while the iron is hot.

Contacting your prospects becomes much easier as you won’t be making “cold calls”. Your leads not only know who you are, they’re expecting their phone to ring. Be prepared to cover the following in your conversation:

• Ask about their specific needs.
• Explain in detail how your business is able to address each of these items.
• Take the opportunity to wow them by discussing how choosing your company will exceed their expectations.
• Request a time for them to meet with you in person.

Sincere trust is solidified in person, and you now have your prospects in a face-to-face meeting, whether it is at your new home sales center, your product showroom or your office. All of your marketing automation efforts have led to this point. Now is the time for your salesmanship to shine.

Take this opportunity to reiterate all you have promised in your phone call as well as the information provided through the weeks of automated communication leading to this meeting. Reassure them they have made the right choice coming to meet you, then ask for their business.

Honestly, it’s that simple. Marketing automation will direct serious buyers to your business much quicker and more affordably than traditional methods—guaranteed.

It doesn’t end there, though. Now that you have a loyal customer you have the ability to create even more leads, sell more products and grow your business faster. How? Well, next week I will be providing all the details in the final entry of this series. If the suspense is too much, however, you can always feel free to call me directly at 301.416.7861 and will be happy to let you in on the secret.

The post Marketing Automation And Why You Need It (Part Three: Close More Sales) appeared first on Power-Marketing.

Last week we talked about the importance of knowing who is visiting your website. Now it’s time to discuss how to nurture them while increasing their interest.

Your Leads Want To Hear From You

Using a marketing automation service like Easy LeadLocker and Infusionsoft you’re able to begin a relationship with your leads, quickly, affordably and yes, automatically.

Your prospects have provided you with some contact information. Now is the time to reach out with valuable information about your product:

• Provide clear, concise information regarding why you’re the best company for them to do business with.
• Comfort your database with the knowledge that you’re there to help with any questions they may have.
• Earn their confidence by reminding them you will be with them through the entire process.
• Invite them to contact you to discuss how you can help solve their current problem
• Remind your database help is just a quick phone call away.

Every communication from your business works to make your prospects comfortable with your brand, establishing you as a trusted resource.

You will be the first business they consider when the time comes to make a purchase, you’ll also have the inside knowledge of predicting when that step is about to take place. A great marketing automation service like Infusionsoft will get you on track and engage leads as they move through the sales funnel. That gives you the ability to contact prospects at the perfect moment—the sweet spot when they’re serious about buying!

Why will they choose to buy from your business? Because you built a quality relationship with them from early on in the sales cycle, proving yourself as a trusted company by nurturing them via a series of automated, yet personalized correspondence.

Next week I will detail how your marketing automation service eases your eager, well-nurtured leads to the sales table, transforming them into thrilled customers.

Would you like to learn more about how Easy LeadLocker and Infusionsoft empowers you to automatically lock up leads? Click here to receive your absolutely free PDF download Automate Your Lead Capture Process.

The post Marketing Automation And Why You Need It (Part Two: Nurture Your Leads) appeared first on Power-Marketing.

Welcome to “Marketing Automation And Why You Need It”. Over the next four weeks you will discover how a properly utilized CRM/Marketing Automation strategy can help you capture, nurture and transform leads into customers automatically.

In order to achieve more sales, it’s imperative to capture serious, eager leads. Attempting to attract everybody in the hopes they will magically convert to a paying client is kind of like eating soup with a fork. Plain and simple, focusing on prospects searching for what you’re selling will create more sales, and it all starts with capturing your leads.

Know Who Is Visiting Your Website

You may be driving enormous amounts of traffic to your website via organic search or PPC ads—which is great—but do you really know who is visiting? Of course you review analytics, but even Google doesn’t provide you with the name, email address or phone number of leads who browsed your website. It’s imperative that you capture this information, and a marketing automation service like Infusionsoft is able to do just that.

Provide Leads Information They Can’t Get Anywhere Else 

Offer valuable content available only by download in exchange for contact information and be notified automatically every time a serious lead makes a request. No longer will you need to waste time or money on potential clients who are nothing more than “tire-kickers”—you will have access to serious, interested prospects.

Next week I will share exactly how you can easily and affordably leverage this vital information to nurture your buyers.

Can’t wait until next week to learn more about Marketing Automation? Call me directly at 301.416.7861 and I will be happy to explain all the benefits of Easy LeadLocker, our very own Marketing Automation service built and created utilizing the power of Infusionsoft.

The post Marketing Automation And Why You Need It (Part One: Know Who Is Visiting Your Website) appeared first on Power-Marketing.